Bass Pro Shops, one of the largest hunting and fishing retailers in the country, has acquired Cabela’s, one of its biggest competitors. This move will nearly double the number of retail locations under Bass Pro Shops’ domain. The sale, valued at $5.5 billion, comes in the wake of multiple quarters of poor sales performance, culminating in an 8.1% drop in sales in the first six months of this year.
The combined company will own 184 stores in the US and Canada. It’s not immediately known if the acquisition will result in any stores closing, but according to USA Today, they have plans to continue and grow the Cabela’s brand.